A Major Exchange in UAE Is Going to Cooperate with Ripple

According to the report of the news media Reuters, a large payment company located in the United Arab Emirates, UAE Exchange, is going to collaborate with Ripple Labs and work on the cross-border payments all over Asia. The Asian market occupies a huge share of the world’s annual remittance (around 613 billion), thus, this niche is highly demanded.

The CEO of the Exchange Promoth Manghat is sure that the payment network of Ripple based on the blockchain technology will become a breakthrough on the Asian market, however, the company will proceed slowly going “fully mainstream”.

We expect to go live with Ripple by Q1, 2019 with one or two Asian banks. This is for remittances to start with, from across the globe into Asia,” he said.

We would like to remind you that Ripple Labs has recently been partnering up with multiple major businesses regarding its cross-border payment system.

South Korea Launches Remittance App Using Ripple’s Blockchain Technology For The First Time

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Over 40 Bugs Were Found On Crypto and Blockchain Platforms In 30 Days

Computer security hackers, or more commonly white hat hackers detected over 40 bugs on different blockchain platforms in last thirty days, according to the report made by TNW. Interestingly, no bug seemed to be serious at first, yet, they all are very severe.

The platforms where these bugs were discovered include Coinbase, which has recently has a controversial situation with Ripple, Monero, Hacker One, Brave, Tezos, Block.one. About 13 companies 43 bug reports from February 13 to March 13.

The most vulnerability reports were conducted by e-sports gambling platform Unikrn, around 12 bugs. This is the biggest amount in the blockchain field. OmiseGo developer, Omise, took the second place with total six bugs report. In third place is EOS, there were five vulnerability reports.

Tendermint, consensus algorithm and peer-to-peer (P2P) networking protocol, took the fourth place with only four bugs. Two companies sum up the top 5 and they are decentralized market protocol Augur and smart contracts platform Tezos. White hat hackers noticed only three bugs in their blockchain.

Next firms are Monero, ICON, MyEtherWallet; it was noticed only two bugs on their blockchain platforms.The best result, if we actually can say so, goes to crypto exchange Coinbase, the company received only one vulnerability. The same result shows blockchain browser Brave.

White hat hackers got their rewards, in total it accounts for $23,675. Tendermint paid the most, more than $8000 for its four bugs. EOS contributed $5500, whilst Unikrn awarded $1,375.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Did or Didn’t Ripple Bribe Coinbase? Should We Believe In Response of Ripple’s Executive On The Case?

It may seem that bribery scandals and acquisitions cannot touch cryptocurrency industry, but that is not true. The recent announcement of Coinbase having listed Ripple’s XRP is a proof of it, since many crypto related people reckon Ripple bribed Coinbase. Let us see what happened.

On February 26, Coinbase Pro announced that XRP was available to trade. The platform provides more advanced services that the regular Coinbase. After listing XRP on Coinbase platform, the price on the tokens raised by 10 percent.

According to the report made by Dior in late February, Coinbase breached its rules to list XRP tokens. Moreover, the CIO of Altana Digital Currency Fund contacted with Elliott Suthers who is Coinbase’s communications’ director and asked some questions. He wrote

whether or not Coinbase asked for permission of either the Securities and Exchange Commission (SEC) or Commodity and Futures Trading Commission (CFTC). In addition, Suthers was asked whether there was a private deal between Coinbase and Ripple for listing XRP pairs.

Suthers answered that he was ready to discuss these things “off the record”, thus let people think that there was something illegal between Coinbase and Ripple.

On the next day, Miguel Vias replied via Twitter that there was no payment regarding this situation.

In April 2018, Bloomberg published that Ripple offered Coinbase and Gemini platforms to list XRP tokens for $100 million in XRP and $1 million correspondingly. Even though the CEO of Ripple refused all the accusations, but rumours cannot just appear from nowhere. It makes us think what if Miguel Vias or any other Ripple’s representative is hiding the truth. It is also quite suspiciously that the company which was embroiled in different lawsuits of insider trading surrounding its Bitcoin Cash listing, did not get anything from listed XRP.

What about you? Do you believe in Ripple’s Executive’s words?

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Broke Pierce Predicts Crypto and Blockchain Future in 2019: DApps, STOs, Gaming

Cryptocurrency and blockchain technology are fast-growing industries which are showing great results in worldwide recognition at the moment. 2017 was the year of ICO and crypto rise, astronomical growth of cryptocurrency prices attracted a lot of investors and governments’ attention. Though, in 2018 the massive mainstream slowed down a bit due to a bearing market, yet, the crypto is not fully terminated. The blockchain technology, in its turn, started to gain momentum last year, thus many people think that 2019 is going to the year of blockchain.

Broke Peirce is a famous American entrepreneur which plays an important role in crypto world. In February 2018, Forbes put Pierce in the “top 20 wealthiest people in crypto” with an estimated net worth between $700 million and $1.1 billion. Let us look at the predictions that Pierce made.

dApps

Decentralized applications are computer apps that run on DLT, they are starting their own way on platforms like Ethereum, Tron, Cardano, but they definitely have future. Pierce said that dApps have to be scalable, fee-less and frictionless, since no one needs internet if “it’s slow, costs money and doesn’t’ scale.”

“We’re going to see big things being built, multiple applications hitting a million users,” Pierce said. “I love the fact that prices are down. When prices are up, very little gets built because teams don’t stick around. Everyone is getting rich too quick and that de-motivates people. All the best things I’ve seen built in this ecosystem have been built in bear markets.”

STOs

Security tokens have gained people’s trust long ago, as they work better and are more regulated than their brother – ICO. Pierce reckons that STOs will bring a lot of money to the market, because we will be able to see a massive “tokenization of the world’s fiat money, debt market, real estate, equities, and art.”

He thinks that STOs are the next wave in the development of capital markets. Unfortunately, ICOs did not manage to protect most of their customers, thus STOs is the future. Pirce assures:

“STOs are designed for investors and can have many provisions that are there to protect market participants.”

Gaming

Broke Pierce is famous not only in crypto world, but also in gaming industry,thereby he can see a cross-over and foresee that the gaming will thrive in 2019.

“Gaming is going to be a huge part of it,” states Pierce. “The earliest adopters at scale of crypto were gamers. That’s why Korea and China are so big. These were the markets where people played video games and bought and sold virtual currency for games like Second Life and World of Warcraft.”

To predict anything is always hard, we therefore cannot guarantee that above-mentioned will come true, yet we trully believe that digital revolution, including dApps, STOs and gaming, is about to come.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The South Korean Blockchain Backed By Messaging Giant Kakao Raised $90M in Private Sale

Crypto subsidiary of Kakao Corp. raised $90 million in private sale, yet there is more to come. On March 12, today, it is planning to raised the same sum of money to launch its blockchain platform in June 2019.

Ground X is a crypto unit which was formed back in May 2018 to develop a blockchain-powered platform. Some representatives say that the initial plan was by creating such a platform to integrate blockchain services into existing internet offering provided by Kakao, including messaging app Kakao Talk.

The CEO of Ground X, Jason Han, gave a small interview regarding to the private sale round. He said that the sale reached its target sum despite the plunge of cryptocurrency market in 2018. He also stated that companies like IDG Capital, Cresendo Equity Partners and Translink Capital had participated in the round.

The Tokyo-based Ground X has launched a test network, called Klaytn, not so long ago. It has teamed up with 26 different companies, including video game developer Wemade, video streaming platform Watcha, Chinese travel agency Zanadu. These companies have millions of active users every day. The company also plans to work with the Seoul Digital Foundation to implement blockchain in social and public services.

Han previously talked about blockchain decentralization, where he claimed:

“The token economy is a business model that no one could have imagined before. Until now, Kakao has only operated in Korea, but through blockchain we could expand into the global market. That means taking a portion of the profits we earn as an intermediary and using it to expand our market by sharing it with users.”

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Top Six Most Important Blockchain Organizations: What Are They?

It has been a decade since Satoshi Nakamoto presented the blockchain technology to the world. And it was a long way to worldwide recognition of Bitcoin. With the help of this technology, the crypto world exploded and brought so many interesting projects. As of 2019, the blockchain technology thrives and a lot of companies became leaders in this field. Let us check what are the most important organizations?

1. Cambridge Blockchain Forum

The Forum was launched in 2018, it is an annual event organized by Cambridge Blockchain Hub. The main goal is bring together the representatives of the blockchain world together to share thoughts about further development and current innovations. Moreover, it aims to explore the possible collaborations and ventures that will combine Cambridge academy and private and public sector of the local entrepreneurial ecosystem.

2. Blockchain Research Institute

The Blockchain Research Institute is a system of people who are experts in the blockchain technology. The work together in order to implement blockchain in different worldwide systems. A global think-tank was established by Don and Alex Tapscott in 2017. The founders of the Institute is the authors of Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business and the World. The organization is running more than one hundred blockchain-researched projects. They are mostly focused on energy and power, finance, government, healthcare, telecom, manufacturing, media, resources and mining, technology and retail.

3.  Cleveland Blockchain and Digital Futures Hub

The hub was launched in late-2018 as a result of collaboration between Cleveland State University and Case Western. The organization mostly touches the technological developments, like VR, AR, the Internet of Things. Yet, it also does not forget about use of blockchain technology in both public and private sector. The hub is also known for creating Blockland – a school for new blockchain developers.

4. Slovenian Blockchain Think Tank

The Slovenian Blockchain Think Tank was created by the Slovenian Digital Coalitionas a way to improve the education system in the country. It mostly focus on raising awareness in the EU and drafting new legislation around blockchain technology.

5. ThinkBlockTank

There is another European blockchain organization which was created to bring importance of implementing the blockchain in the Union. Think-tank was launched on November 2018 by Letzblock to take up distributed ledger technologies, token regulation, blockchain. The hub also released “EU Token Regulation Paper.”

6. CRYSTAL Centre

This organization was launched by the National University of Singapore (NUS) School of Computing. The name of the hub stands for Cryptocurrency Strategy, Techniques and Algorithms, it is created to help startups to be implemented in private and public sector.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

A Major French Seaport Will Use Blockchain to Handle Logistics

One of the largest European economies France is actively engaged in implementing the blockchain technology in various field of activity. Just recently, we have informed you about a retail giant Carrefour that started to use blockchain for its milk supply chain management.

According to the report made by PostSEurope, the leading seaport of France and the fourth largest port in Europe, Marseille Fos, is going to apply blockchain for the management of data regarding the transportation of goods through the Mediterranean-Rhône-Saône axis (MeRS) transport corridor.

The project was fully supported by local authorities, including the approval of the initiative and covering all the financial expenses. A couple of major French companies partnered up to fund the idea, one of them being Voies navigables de France, a navigation regulator which is in control of most inner waterways of France.

The pilot version of the blockchain-based logistics system will be launched to check whether the technology can provide the “fluidity, safety and competitiveness of the chain logistics and intermodal freight forwarding”.

The most important goal of the initiative is securing the data on the cargo transportation in order to eliminate the need for a mediator.

The technical part of the project was developed by three companies, which separately worked on the blockchain sector, supply chain sector and logistics sector.

The trial version of blockchain for managing Mediterranean-Rhône-Saône axis logistics (proof of concept) is going to be launched in June of this year. If the system proves to be efficient, the same technology will be applied to many other seaports in France and later on in Europe.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/